TCA approval of American DeRosa Lamparts LLC and Athersys Inc projects will create 442 jobs
COLUMBUS – State Representatives Casey Weinstein (D-Hudson) today announced the approval of two projects set to create 442 jobs in House District 37. During its monthly meeting, the Ohio Tax Credit Authority (TCA) reviewed economic proposals from American DeRose Lamparts LLC and Athersys Inc brought to the board by JobsOhio and Team NEO, its regional partner. The projects are collectively expected to result in $37.5 million in new payroll and spur more than $350 million in investments across House District 37.
“These projects will not only keep high-quality jobs in House District 37—they will create more of them,” said Rep. Weinstein. “With Luminance Brands’ work in engineering and Athersys Inc.’s work in biotechnology, these are the exact type of 21st-century jobs we want to attract.”
American DeRosa Lamparts LLC (Luminance Brands), City of Cuyahoga Falls, expects to create 42 full-time positions, generating $2.7 million in new annual payroll due to the company’s new project in Cuyahoga Falls. Luminance Brands distributes lighting bulbs, fans, and fixtures supporting the residential, commercial, and industrial lighting space. The TCA approved a 1.432 percent, seven-year Job Creation Tax Credit for this project.
Athersys Inc., City of Stow, expects to create 400 full-time positions, generating $34.8 million in new annual payroll and retaining $10.8 million in existing payroll as a result of the company’s expansion project in Stow. Athersys is a clinical-stage biotechnology company developing novel and proprietary best-in-class therapies designed to extend and enhance the quality of human life. The TCA approved a 2.484 percent, 10-year Job Creation Tax Credit for this project.
